Bharti AXA Life Insurance and Airtel Payments Bank announced a\nfirst-of-its-kind alliance to offer the \u2018Pradhan Mantri Jeevan Jyoti Bima\nYojana\u2019 (PMJJBY), a government-backed life insurance scheme aimed at increasing\nthe penetration of life insurance among underinsured masses and contributing to\nfinancial inclusion in the country.<\/p>\n\n\n\n
The product \u2018Pradhan Mantri Jeevan Jyoti Bima Yojana\u2019 (PMJJBY) provided by\nBharti AXA Life Insurance offers Rs. 2 lakh life insurance cover for a nominal\npremium of Rs 330 per annum and can be purchased by all existing or new Airtel\nPayments Bank savings bank account holders between the age of 18-50. The\nprocess of purchasing this policy is secure, paperless and completely digital,\nensuring convenience for consumers.<\/p>\n\n\n\n
As per the tie-up, PMJJBY will be initially available at 100,000 Airtel\nPayments Bank – Banking Points across the country. Airtel Payments Bank would\nsteadily scale up the availability to over 500,000 banking points in order to\nenable the product to reach even the remotest corners of the country.<\/p>\n\n\n\n
Commenting on the strategic alliance, Mr. Anubrata Biswas, Managing\nDirector and Chief Executive Officer, Airtel Payments Bank,<\/strong> said,\n\u201cAirtel Payments Bank\u2019s unique distribution network allows financial inclusion\nto reach the 190 million underinsured Indians. This association with Bharti AXA\nLife Insurance is one important step of many, in our journey towards building\nmeaningful customer relationships through core values of simplicity,\ntransparency and ease of use.\u201d<\/p>\n\n\n\n Mr. Vikas Seth, Chief Executive Officer and Managing Director, Bharti\nAXA Life Insurance,<\/strong> said, \u2018\u2019We are happy to join hands with Airtel\nPayments Bank and forge a relationship built on common values of service\nexcellence and customer trust. This is the first step towards our journey of\n\u2018Insure India\u2019 with a view to bringing affordable life insurance to every\nhousehold through Airtel Payments Bank\u2019s vast and productive network.\u2019\u2019<\/p>\n\n\n\n Mr. Seth said the alliance with Airtel Payments Bank will help strengthen\nBharti AXA Life Insurance\u2019s strategy of multi-channels distribution and\npresence across India. \u2018\u2019Through our association with Airtel Payments Bank, we\nplan to bring more insurance products which will improve insurance inclusion\nand penetration for the country.\u2019\u2019 he added.<\/p>\n\n\n\n About Airtel Payments Bank Ltd.<\/strong><\/p>\n\n\n\n About Bharti AXA Life Insurance Company Ltd.<\/strong>\n\nBharti AXA Life Insurance is a joint venture\nbetween Bharti, one of India\u2019s leading business groups with interests in\ntelecom, agriculture business and retail, and AXA, one of the world\u2019s leading\norganizations with interests in financial protection and wealth management. The\njoint venture company has a 51% stake from Bharti and 49% stake of AXA. The\ncompany has pan-India presence through its 187 branches and offers a wide range\nof value for money and need-based insurance products targeted at individual and\ngroups.\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":" Bharti AXA Life Insurance and Airtel Payments Bank announced a first-of-its-kind alliance to offer the \u2018Pradhan Mantri Jeevan Jyoti Bima Yojana\u2019 (PMJJBY), a government-backed life insurance scheme aimed at increasing the penetration of life insurance among underinsured masses and contributing to financial inclusion in the country. The product \u2018Pradhan Mantri Jeevan Jyoti Bima Yojana\u2019 (PMJJBY) […]<\/p>\n","protected":false},"author":13,"featured_media":3251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[74,60],"class_list":["post-3250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-bank-current-affairs","tag-government-schemes-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=3250"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3250\/revisions"}],"predecessor-version":[{"id":3252,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3250\/revisions\/3252"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/3251"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=3250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=3250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=3250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Airtel Payments Bank is India\u2019s first payments bank. Launched in January 2017, Airtel Payments Bank aims to take digital banking services to the doorstep of every Indian, particularly in unbanked rural areas, and contribute to the Government\u2019s vision of Digital India and Financial Inclusion. A fully digital and paperless bank, it has presence in all 29 states of India through a vast network of 500,000 banking points that offer account opening, cash deposit and withdrawal, money transfer facility.<\/p>\n\n\n\n